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It doesn't take many observations to think you've spotted a trend, and it's probably not a trend at all.
Daniel Kahneman
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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Doesn
Take
Many
Spotted
Think
Observations
Thinking
Trend
Trends
Observation
Probably
More quotes by Daniel Kahneman
Some memories come with a very compelling sense of truth about them. And that happens to be the case even with memories that are not true.
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The confidence that individuals have in their beliefs depends mostly on the quality of the story they can tell about what they see, even if they see little.
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Individual investors predictably flock to stocks in companies that are in the news.
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All of us would be better investors if we just made fewer decisions.
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Hindsight bias makes surprises vanish.
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People like leaders who look like they are dominant, optimistic, friendly to their friends, and quick on the trigger when it comes to enemies. They like boldness and despise the appearance of timidity and protracted doubt.
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We associate leadership with decisiveness. That perception of leadership pushes people to make decisions fairly quickly, lest they be seen as dithering and indecisive.
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In essence, the optimistic style involves taking credit for successes but little blame for failures.
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Acquisition of skills requires a regular environment, an adequate opportunity to practice, and rapid and unequivocal feedback about the correctness of thoughts and actions.
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All of us roughly know what memory is. I mean, memory is sort of the storage of the past. It's the storage of our personal experiences. It's a very big deal.
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Our memory tells us stories, that is, what we get to keep from our experiences is a story.
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The evidence is unequivocal, there's a great deal more luck than skill in people getting very rich.
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When you look at the books about well-being, you see one word - it's happiness. People do not distinguish.
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It was always assumed I would be a professor. I grew up thinking it.
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Experts don't know exactly where the boundaries of their expertise are.
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Laziness is built deep into our nature.
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This is the essence of intuitive heuristics: when faced with a difficult question, we often answer an easier one instead, usually without noticing the substitution.
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Establish a closing ritual. Know when to stop working. Try to end each work day the same way, too. Straighten up your desk. Back up your computer. Make a list of what you need to do tomorrow.
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If owning stocks is a long-term project for you, following their changes constantly is a very, very bad idea. It's the worst possible thing you can do, because people are so sensitive to short-term losses. If you count your money every day, you'll be miserable.
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When people think of the outcomes of their decisions, they think much more short term than that. They think in terms of gains and losses.
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